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Introducing the topic of SME finance and summarising the main findings of the contributions to this edition of the EIB … Papers, this overview stresses the importance of relationship banking for the supply of SME credit; points out the … little evidence of widespread SME credit rationing, financial market imperfections may nevertheless curb SME growth; and …
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This paper examines whether small and mediumsized enterprises (SMEs) in Europe suffer from a structural financing problem that hinders their growth. To this end, we estimate growth-cashflow sensitivities for firms in different size classes. Our results show that the sensitivity of company growth...
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Financing constraints have been discussed as a major obstacle to innovation. Small and mediumsized enterprises and start-ups are particularly concerned by such impediments. Venture capital has emerged as a partial solution in some countries, but is only available for start-up firms with major...
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The study is divided into four broad parts, beginning with an exploratory analysis of the data on expost returns on corporate equities and bonds for the 1926-80 period. In Part 2, we estimate the relationships between one-month expost returns on corporate bonds and equities andvariations in...
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This book explores what happened in the transition economies of China, Vietnam and Myanmar from both macro and micro perspectives, and questions whether the governments of these countries are capable of implementing effective reform and transformation
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